Monsanto waives its proposed sale of Precision Planting LLC to machinery manufacturer John Deere. This ends a legal battle with antitrust authorities over the deal.
The United States Department of Justice opposed the cars for sale, because the deal would make using high-speed precision planting technology more expensive for farmers. Later this year, Monsanto and Deere were due to fight the case, but Monsanto subsidiary Climate Corporation, which runs the precision farming business, no longer believed in it.
Victory for farmers
Monsanto keeps the company up for sale. According to them, there are plenty of other interested parties. In addition, the digital partnership between Deere and Climate and the distribution deal with farm data company Ag Leader will also end.
Deere is disappointed with the outcome, because their customers would have benefited from the acquisition, the manufacturer says. However, the ministry speaks of a victory for American farmers and consumers.
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